According to Steven Blank a business startup, or any new venture startup is essentially a proto-type. Thus the startup process essentially becomes a learning process to refine that business proto-type into a scalable, replicable finished 'product'.
At the end of this course learners will be able to:
-complete a business model summarizing assumptions about what value they will offer to whom, and how they will make
money.
- systematically test and validate these assumptions within the constraints of their available resources, and
- use these validated assumptions to generate financial projections that are based on actual resources and efforts expended.
The days of the 40 page business plan have certainly passed, but the role of planning in the business creation process is one of extreme importance. In this course we will explore the important components that you need to explore in detail prior to business creation. Action without planning is a recipe for disaster and we will make sure you have a rock solid foundation for future actions.
The planning here is focused on learning. It is unrealistic for anyone to document in detail all of the actions they should take to make a new venture or activity successful when they (and often no one else) has any experience with the new venture and the conditions which it is likely to face. Thus the business plan based largely on assumptions and aggregate, non-applicable data is replaced with the business model which organizes the key assumptions determining what value the business will offer to whom, and how it will make money. The course will guide learners through the process of systematically testing and validating these assumptions, and obtaining specific, applicable data. It will then show learners how to use these validated assumptions to generate pro-forma financial statements directly tied to actions and resources based on this business model.

From the lesson

INTRODUCTION

This module re-establishes that the ultimate goal of the business development process is the Business Franchise Model - Business Plan. It then provides an overview of the components of this business development process,and the process to create them.
Learning Goals: every arduous journey needs a clear and ever-visible goal to guide it. After successfully completing this module, you will be able to do the following.
1) Explain why the 'Business Franchise Model - Business Plan is the ultimate goal of the business development process, making it your clear and ever-visible goal.
2) You will also be able to list the core milestones of this business development process process and the steps to achieve them. Thus enabling you to follow those steps to achieve those milestones towards creating your own business.